Bullish Moving Average Cross by SM Energy (SM)

Published on Wed, 06/03/2015 - 12:42
By Adrienne Chilton in Moving average crossovers, SM, moving crosses, nyse:sm, sm energy

SM Energy (NYSE:SM) shares have crossed bullishly above their 10-day moving average of $52.97 on a volume of 759K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Potential upside of 20.9% exists for SM Energy, based on a current level of $52.58 and analysts' average consensus price target of $63.59. SM Energy shares should first meet resistance at the 50-day moving average (MA) of $54.59 and find additional resistance at the 200-day MA of $54.59.

St. Mary Land & Exploration Company is an independent energy company that explores for and produces natural gas and crude oil. The Company's operations are focused in the Mid-Continent region, the Arkansas/Louisiana/Texas region, south Louisiana, the Williston Basin, and the Permian Basin.

SM Energy share prices have moved between a 52-week high of $90.38 and a 52-week low of $29.41 and are now trading 79% above that low price at $52.58 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 0.6%.

By Adrienne Chilton
achilton@fnno.com

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